AMP Bank opens RMBS market for 2010 18 January 2010 5:32PM Philip Bayley AMP Bank, via Progress 2010-1 Trust, will issue A$543 million of prime RMBS this week. Pricing of the issue is scheduled for Friday. The issue, rated by both Standard & Poor's and Fitch Ratings, comprises three tranches: A$500 million of Class A notes, rated 'AAA/AAA' and with a weighted average life of 3.0 years; A$30.5 million of Class AB notes, rated 'AAA/AAA', with a weighted average life of 5.2 years; and A$13 million of Class B notes, rated 'AA-' also with a weighted average life of 5.2 years.The Australian Office of Financial Management will buy some of the notes but will not be a cornerstone investor.